Top two memecoin prices have surged together again following a historic pattern
Historically, the top two Memecoin have followed almost the same pump. according In on-chain market intelligence and analytics platform sentiment, Shiba Inu (SHIB) price and trading volume rose again just after Dogecoin (DOGE).
DOGE’s price saw a 44% pump in the past 7 days, per Santiment data. Although SHIB’s pump is less than half of Dogecoin’s, the analytics platform says that “Shiba Inu has historically followed Dogecoin pumps.”
According to data from CoinMarketCap (CMC), Shiv Similarly, followed dogePumped in April and May last year. Almost the same movement took place in October 2021 – while Dogecoin saw a nearly 40% increase in price, the Shiba Inu price surged more than 11x in less than a month.
Data shows that both of the dog-themed memecoins saw a massive pump in terms of the daily trading volume. At the start of the week on Oct. 24, SHIB and DOGE’s trading volumes were roughly $120 million and $201 million, respectively.
With the price pump, consequently, daily trading volume top two memecoins At the time of writing this is roughly $810 million and $3.2 billion, according to Sentiment figures.
Dogecoin is currently trading at around $0.0865, up by 7.5% in the past 24 hours, according to CMC. Similarly, Shiba Inu saw a 9.3% surge in the last 24 hours and is trading at nearly $0.000012 at the time of writing, per CMC data.
